Is Nuveen Taxable Municipal Income Fund (NBB) halal? Not Halal. Based on AAOIFI screening, Nuveen Taxable Municipal Income Fund has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

Nuveen Taxable Municipal Income Fund

NBB: Is Nuveen Taxable Municipal Income Fund Halal?

Not Halal

Nuveen Taxable Municipal Income Fund

NYSEFinancial ServicesUS

$15.65

-0.38%

About Nuveen Taxable Municipal Income Fund

Nuveen Taxable Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc. The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund also invests some portion of its portfolio in derivative instruments. It invests in Build America Bonds, i.e. taxable municipal securities. The fund employs fundamental analysis with bottom-up and top-down stock picking approach to create its portfolio. It benchmarks the performance of its portfolio against the Barclays Capital Build America Bond Index. The fund was formerly known as Nuveen Build America Bond Fund. Nuveen Taxable Municipal Income Fund was formed on December 4, 2009 and is domiciled in the United States.

Sector: Financial Services 路 Industry: Asset Management - Income

Shariah Compliance Status

AAOIFI Standard 21Updated Jun 13, 2026
F

Non-Compliant

Fails Shariah screening

0Score

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

  • Basket-weighted haram holdings exceed 5% (147.4%)

Basket Composition

100% of basket screened

ETFs are baskets of many stocks. AAOIFI-aligned rule: basket is halal when haram weight is under 5%. The purification share is the weighted prohibited-income contribution of the underlying holdings.

147%
Halal0%
Doubtful0%
Haram147%
Unknown0%

Top Holdings

Washington State Convention Center Public Facilities District, Lodging Tax Revenue Bonds, Build America Taxable Bond Series 2010Bharam6.08%Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Build America Taxable Bonds, Series 2010Dharam5.30%Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Federally Taxable - Direct Payment - Build America Bonds, Series 20haram5.28%Georgia Municipal Electric Authority, Plant Vogtle Units 3 & 4 Project P Bonds, Refunding Taxable Build America Bonds Series 2010Aharam4.38%Los Angeles Community College District, California, General Obligation Bonds, Build America Taxable Bonds, Series 2010haram3.96%Dallas Convention Center Hotel Development Corporation, Texas, Hotel Revenue Bonds, Build America Taxable Bonds, Series 09Bharam3.74%Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital improvement Projects, Second Senior Lharam3.54%Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds, Mulitple Capital Projects I, Build America Taxable Bond Series 2haram2.80%Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Taxable Series 2018Dharam2.75%Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Federally Taxable Build America Bonds, Series 2010Bharam2.72%

Compliance History

  1. Not Halalnow

    current status

  2. Under Review

    until the change above

Tracked since May 2026. Updates automatically on each re-screen.

Screened: Jun 13, 2026Fiscal: N/ASource: FMP-LOOKTHROUGH

Financial Overview

Market Cap

460.0M

Price

$15.65

Sector

Financial Services

Industry

Asset Management - Income

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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Frequently Asked Questions

Is Nuveen Taxable Municipal Income Fund (NBB) halal to invest in?
Nuveen Taxable Municipal Income Fund (NBB) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.
Why did Nuveen Taxable Municipal Income Fund get a F compliance rating?
Nuveen Taxable Municipal Income Fund's compliance grade is determined by AAOIFI Standard 21 screening, a two-step process: (1) qualitative screen for prohibited business activities and (2) quantitative check of debt, interest deposits, and prohibited income ratios. Scroll up to see the detailed ratio breakdown.
What could change Nuveen Taxable Municipal Income Fund's Shariah verdict?
Nuveen Taxable Municipal Income Fund's verdict is recalculated whenever the fund rebalances or holdings change materially. If the haram-weight of underlying holdings crosses 5% (the AAOIFI threshold for fund look-through), the verdict will flip to Not Halal. HalalScreener rescreens ETFs at each rebalance cycle.
How often is Nuveen Taxable Municipal Income Fund re-screened for Shariah compliance?
Nuveen Taxable Municipal Income Fund (NBB) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jun 13, 2026.

Screened according to AAOIFI Standard No. 21 路 For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.